Market Overview: Crude Oil Futures The market formed a monthly Crude Oil lower high in July. The bears want a reversal from a lower high major trend reversal, a wedge bear flag (Sep 28, Apr 12, and Jul 5), and a double top bear flag (Apr 12 and Jul 5). The bulls hope that the current sideways-to-down […]
Weekly Crude Oil Pullback
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil pullback testing the middle of the trading range. The bears need to create a follow-through bear bar to increase the odds of testing the bottom of the triangle. The bulls see the current move simply as a pullback and want at least a […]
Weekly Crude Oil Follow-through Selling
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil follow-through selling on the weekly chart. The bears want a reversal from a lower high major trend reversal, a double top bear flag (Apr 12 and Jul 5) and from around the top of the large triangle pattern. The bulls hope that the […]
Weekly Crude Oil Bull Leg
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil bull leg in the form of a 5-bar bull micro channel. The bulls want a retest of the July 5 high and hope to get a strong breakout above the triangle pattern. The bears want a reversal from a lower high major trend […]
Weekly Crude Oil Tight Bull Channel
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil tight bull channel from the June 4 low. The bulls have a 5-bar bull microchannel which means persistent buying. There may be buyers below the first pullback from such a strong bull microchannel. The bears want a reversal from a lower high major […]
No Crude Oil Breakout
Market Overview: Crude Oil Futures There is no Crude Oil breakout above the expanding triangle yet on the weekly chart. The bears want a reversal from a lower high major trend reversal, a double top bear flag (Apr 26 and Jun 28) and from around the top of the broadening triangle. The bulls hope to […]
Crude Oil Bulls Need Follow-through
Market Overview: Crude Oil Futures The Crude Oil bulls need follow-through buying following this week’s breakout above the bear trend line. They also need to create a breakout above the expanding triangle top. The bears want a reversal from a lower high major trend reversal, from a double top bear flag (May 29 and Jun […]
Weekly Crude Oil Pullback
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil pullback to the middle of the trading range on the weekly chart. The bulls want a retest of the April 12 high after the current pullback and the bull trend line to act as support. The bears want the 20-week EMA and the bear trend line to […]
Weak Crude Oil Breakout
Market Overview: Crude Oil Futures The weekly chart formed a weak Crude Oil breakout from the small expanding triangle. The bulls want the 20-week EMA or the bull trend line to act as support. They want a failed breakout below the bull trend line. The bears need to create follow-through selling trading far below the […]
Weekly Crude Oil Tight Trading Range
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil tight trading range in the form of 4 overlapping candlesticks. The bears see the tight trading range simply as a sideways pullback and want another strong leg down. The bulls want the 20-week EMA or the bull trend line to act as support. […]
